In announcing his tariffs, Trump boasted that the average American would not bear the brunt of his tariffs. However — and this is not news to any economist — research indicates that his controversial tariffs will raise household costs this year, creating the largest tax increase in a generation.
According to a study, the average American household will pay an extra $1,300 in 2026 due to Trump’s tariffs.
“Historical evidence and recent studies show that tariffs are taxes that raise prices and reduce available quantities of goods and services for U.S. businesses and consumers, resulting in lower income, reduced employment, and lower economic output,” the study concluded.
Sen. Chris Coons, a Delaware Democrat, said in a recent statement addressing the tariffs. ” President Trump is making America expensive again.”